Oak Thistle LLC Reduces Position in Coupang, Inc. $CPNG

Oak Thistle LLC reduced its position in Coupang, Inc. (NYSE:CPNG) by 34.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,030 shares of the company’s stock after selling 31,606 shares during the quarter. Oak Thistle LLC’s holdings in Coupang were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPNG. Vanguard Group Inc. increased its holdings in Coupang by 343.5% in the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after buying an additional 22,147,432 shares during the last quarter. Eminence Capital LP bought a new stake in Coupang in the second quarter valued at about $204,840,000. Bank of America Corp DE increased its holdings in Coupang by 198.8% in the third quarter. Bank of America Corp DE now owns 5,510,247 shares of the company’s stock valued at $177,430,000 after buying an additional 3,666,227 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Coupang by 249.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,685,047 shares of the company’s stock valued at $150,859,000 after buying an additional 3,343,171 shares during the last quarter. Finally, State Street Corp increased its holdings in Coupang by 21.2% in the third quarter. State Street Corp now owns 18,964,373 shares of the company’s stock valued at $610,653,000 after buying an additional 3,322,598 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Performance

Shares of CPNG stock opened at $19.72 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $18.80 and a two-hundred day moving average of $24.26. Coupang, Inc. has a 52 week low of $16.74 and a 52 week high of $34.08. The company has a market cap of $36.05 billion, a P/E ratio of 164.32 and a beta of 1.16.

Coupang (NYSE:CPNG) last issued its earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

CPNG has been the subject of several research analyst reports. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Mizuho lowered their price objective on Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Morgan Stanley lowered their price objective on Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Weiss Ratings lowered Coupang from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Finally, Nomura lowered their price objective on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Coupang has a consensus rating of “Hold” and a consensus target price of $26.70.

Insider Buying and Selling

In related news, Director Neil Mehta bought 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 7,350,104 shares of company stock valued at $136,566,051 in the last three months. Insiders own 12.78% of the company’s stock.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.